Under the deal, Zoopla will take over the Thinkproperty brand and website, which attracts about 200,000 unique users per month, and become the exclusive property search partner on the theguardian.com website.

"GMG Property Services is first and foremost a provider of market-leading software solutions to UK estate agents and property management agents," said Mark Goddard, managing director of GMG Property Services.

"We are making significant progress in all areas of our software business and I believe this is where our focus is best placed. Thinkproperty.com has received fantastic feedback from consumers and agents but Zoopla are best placed to take the brand forward."

GMG publishes MediaGuardian.co.uk.

• To contact the MediaGuardian news desk email editor@mediatheguardian.com or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000.

• If you are writing a comment for publication, please mark clearly "for publication".